I believe the parent is referring to Qualified Small Business Stock. New issues of stock (meeting certain requirements: certain date ranges, company must be va

I believe the parent is referring to Qualified Small Business Stock. New issues of stock (meeting certain requirements: certain date ranges, company must be valued at less than $50M, keep all it's assets in "productive" investments, not passive such as real estate or other stock) can be completely excluded from long term capital gains tax. https://blog.wealthfront.com/qualified-small-business-stock/ https://blog.wealthfront.com/qualified-small-business-stock/ has a nice summary.